Mortgage Corporation of the South Suite 113, Fairfield Office Park, Highway 7 · P. O. Box 33231 Charleston, S. C. 29407 (803) 571-1624 June 29, 1977 Mr. Warren Norman Rock Hill, SC 29730 Re: Shiland Hills Shopping Center Dear Mr. Norman: I spoke with Western Savings Bank on Tuesday, June 28th, 1977, regarding your commitment on the above referenced shopping center. This letter is to confirm that you still have a commitment from Western at the 9% interest rate. As you know, this commitment is based on a free and clear title to the subject property and Western cannot guarantee that the interest rate will remain at 9% if the market should change in the near future. Certainly hope progress with this title problem is being made and please keep us posted on any new developments. be of help to you do not hesitate to call. Very truly yours, Bob Bolden Robert C. Balderson If I can John Gill Insurance PO. Box 3608 CRS June 20, 1978 Governor James B. Edwards Office of the Governor Columbia, South Carolina 29202 Dear Governor Edwards: On April 4, 1976, Mr. Weldon Burns and I contracted to sell 191 acres of owned land in the Fort Mill Township of York County, South Carolina. Under the terms of the contract, the buyer after paying a downpayment, would assume two loans outstanding against the property and would give us a mortgage on the balance owed. One of the loans was with the Federal Land Bank and the other with Southern Bank and Trust Company. On October 10, 1976, the above contract was closed with a deed conveyed to the buyer and mortgage to us recorded in the York Court House. The buyer subsequently applied for and was approved two different development loans. The loans were for the release of lots from our mortgage and the water and sewer development of the entire project. Very close to the closing of one of these development loans, the buyer was informed by his Title Insurance Company that they were withdrawing their commitment on the loan due to an impending Catawba Indian claim. Due to this withdrawal, the buyer could not make the payments and taxes on the loan. The buyer has tried time and time again to resolve the matter, but to no avail. The "upshot" of it all is that we have paid out $16,849.00 in taxes and interest since we sold the property. The bank has called me on the loan, and I have no way to pay it. Does this mean that I have to destroy my credit rating and reputation because of some alledged miscalculation of one hundred years ago? We bought the land in good faith and sold it the EXHIBIT 6a - i Governor James B. Edwards Office of the Governor John Gill Insurance EO. Box 3608 CRS same way, but my faith in the governments of South Carolina and We need immediate relief. We propose that the United States Goverment My business life depends on something happening quick. My business On behalf of Governor James B. Edwards, I acknowledge receipt of your letter of June 20, 1978, concerning the problems you are experiencing due to the cloud which has been placed on land titles in your area by the claim of the Catawba Indian tribe. As you know, many areas of our Country are experiencing these problems, particularly in the Northeast. We are acutely aware of the problems being experienced by citizens such as yourself and are actively engaged in seeking solutions. The legislature, likewise, is aware of the problem and a concurrent resolu- Your proposal that some governmental body indemnify title insurance companies has merit. To implement such a program, it is my opinion that legislative action would have to be taken by either Congress or the State Legislature. Accordingly, I urge you to express your views to our United States Congressional Delegation and to our State Legislators. |